American equities head north, as US-China trade clashes recede

14:45 21.05.2018

On Monday, American equities mostly ascended. It’s because China and the United States agreed to suspend the introduction of tariffs before the signing of a trade pact between the two leading economies of the world.

On Sunday, US Treasury Secretary Stephen Mnuchin told that at the moment the trade conflict between the United States and China was frozen. For the last few months, both countries have been drawn into a fierce trade feud to introduce reciprocal tariffs on imported goods. Notwithstanding the suspension of the introduction of tariffs, China hasn’t agreed to cut the US trade deficit by nearly $200 billion in mutual trade yet despite Donald Trump’s demand.

Tesla shares, which soared by 1.72%, after Tesla CEO Ilon Mask uncovered a two-fold leap in the price of the new version of Model 3. The Facebook shares rallied by 0.76%, and shares of semiconductor maker Advanced Micro Devices Inc dipped 2%. Equities of General Electric slumped by 2.20%.

On the other hand, shares of British American Tobacco headed south 0.53%, Aegion Corp managed to ascend 2.26%, equities of Vedanta Ltd dived by 1, 68%.

Meanwhile, European stock markets demonstrated quite mixed dynamics of trading. The French CAC 40 managed to ascend by 0.67%, the German DAX acquired 0.28%, while the London FTSE 100 inched up by 0.79%. The Euro Stoxx 50 index headed south by 0.55%, while the Spanish IBEX 35 rallied by 0.07%.

Gold futures inched down 0.57%, trading at $1,244.0.

Besides this, WTI crude futures ascended by 0.34%, coming up with a reading of $71.61 per barrel.

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